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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (24696)	9/28/1998 9:54:00 PM
From: akidron	Read Replies (1) \| Respond to of 70976

Got back from the Dominican Republic yesterday, having survived George, rather better than the country.... talk about sad, how a storm hits the poor hardest. Spent some time with the ESPN crew doing the Sosa story, spent alot of time looking for clean water. Sold everything remaining this morning. Had too... the long term capital crappola is the same kind of crony capitalist bullshit we've been bashing the SEA's for, for Greenbottle to go for it he's gotta be scared. The idea that a half point rate cut's gonna do diddly is funny, and if he doesn't go for it, it means he's accepted reccession. Just FYI... I am now an extreme bear

To: Proud_Infidel who wrote (24696)	9/28/1998 10:13:00 PM
From: Gottfried	Read Replies (2) \| Respond to of 70976

Brian, rate cut: there's no consensus as far as my reading tells me. I vote for 1/4%. Street.com has a free story on it thestreet.com GM

To: Proud_Infidel who wrote (24696)	9/29/1998 12:19:00 AM
From: Ramsey Su	Read Replies (2) \| Respond to of 70976

Another one bites the dust. Ramsey Nippon Steel (5401) To Abandon Japanese Chip Production TOKYO (Nikkei)-Nippon Steel Corp. decided Monday to withdraw fully from domestic production of semiconductors, company sources said. To that end, the steelmaking giant will sell all the shares it holds in subsidiary Nippon Steel Semiconductor Corp. (6939) to the United Microelectronics Corp. (UMC) group, one of Taiwan's leading semiconductor makers, by the end of the year. Nippon Steel currently holds 30,560 shares of Nippon Steel Semiconductor, or 56% of the unit's stock outstanding. Nippon Steel appears to have reached an agreement with UMC under which the Taiwanese firm will also buy one of the subsidiary's two chip-production lines. Together, the shares and the line are expected to sell for an estimated 5 billion yen. After selling that line to UMC and the second line to another company, either foreign or domestic, Nippon Steel will pull out of chip production in Japan. In the current fiscal year through March 1999, Nippon Steel is expected to report an extraordinary loss of about 120 billion yen, mainly on the disposal of debts incurred by the subsidiary. As a result, the company will likely post a large net loss, not the 5-15 billion yen in net profit previously forecast. Nippon Steel entered the semiconductor market fully in 1993 by purchasing a Minebea Co. (6479) subsidiary. Since then, however, prices on dynamic random-access memory chips (DRAMs) have declined. Nippon Steel Semiconductor has sustained substantial losses since fiscal 1996 and had 7 billion yen of liabilities in excess of assets in the fiscal year ended March 31. (The Nihon Keizai Shimbun Tuesday morning edition)